Namib Minerals secures US$6.5 million term loan to fund Redwing Mine drilling, bankability work
NAMM•Namib Minerals secured a US$6.5 million term loan from BancABC to partially fund Step 3 of the Redwing Mine restart plan, including surface drilling and advancing the feasibility study to bankability.
1. Loan funds mine work
The new facility consolidates Namib Minerals’ existing BancABC term loan and overdraft facilities into a single loan. It will partially finance Step 3, including surface drilling for resource definition and advancing the definitive feasibility study to bankability.
2. Restart plan progress
Step 2, the feasibility study technical program, is underway and fully funded. Step 1 dewatering was completed on September 21, 2026, while the remaining Step 3 funding is expected to come from a sequenced, non-dilutive financing plan.
